The following s December 31. Not accessible - LogMeIn is off - No remote users are connected ies of United Insulation Corporation. United's fiscal year ends on rate. Dec. 2021 Jan. 13 Negotiated a revolving credit agreement with Parish Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $25.0 million at the bank's prime Feb. 1 Arranged a three-month bank loan of $2.0 million with Parish Bank under the line of credit agreement. Interest at the prime rate of 13% was payable at maturity. May 1 Paid the 13% note at maturity. 1 Supported by the credit line, issued $17.6 million of commercial paper on a nine-month note. Interest was discounted at issuance at a 12% discount rate. 31 Recorded any necessary adjusting entry(s). 2022 Sept. 1 Paid the commercial paper at maturity. Required: Prepare the appropriate journal entries through the maturity of each liability. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in whole dollars.) Journal entry worksheet 1 2 3 4 5 6 7 > Record a revolving credit agreement negotiated with Parish Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $25.0 million at the bank's prime rate. Note: Enter debits before credits. Date General Journal Debit Credit Jan 13, 2021 Journal entry worksheet Record a three-month bank loan of $2.0 million with Parish Bank under the line of credit agreement. Interest at the prime rate of 13% was payable at maturity. Note: Enter debits before credits. General Journal Debit Credit Date Feb 01, 2021 Record entry Clear entry View general Journal Journal entry worksheet Record the payment of the 13% note at maturity. Note: Enter debits before credits. Date General Journal Debit Credit May 01, 2021 Record entry Clear entry View general Journal Journal entry worksheet 1 2 3 4 5 6 7 > Record the issuance of $17.6 million of commercial paper on a nine-month note, supported by the credit line. Interest was discounted at issuance at a 12% discount rate. Note: Enter debits before credits. General Journal Debit Credit Date Dec 01, 2021 Journal entry worksheet Record necessary adjusting entry to accrue interest on December 31. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2021 Record entry Clear entry View general lournal Journal entry worksheet 1 2 3 4 5 6 7 Record interest on commercial paper in 2022. Note: Enter debits before credits. Date General Journal Debit Credit Sep 01, 2022 Journal entry worksheet Record the repayment of commercial paper at maturity. Note: Enter debits before credits. General Journal Debit Credit Date Sep 01, 2022 Record antry Clear antv View general Journal
